There's also an enemy on the cliff edge nearby. Defeat him and grab the item behind him.
There are two more items to the left of the tree.
Stick to the left and move forward. There are thorns ahead, so burn them to pass through.
Inside, there is an item and a resource chest.
On the other side of the banyan tree, you can find a book [Various Vows #9: Chen Hufa of Pili Hall's Vow] and an item.
