New World Department Store China, controlled by Hong Kong billionaire Cheng Yu-tung, will open as many as six stores in China this year to benefit more from the stimulus program driving the nation’s growth.

The retail arm of Cheng’s New World Development Co plans to open two stores in Beijing and two in Shanghai this year, and may open one each in Shenyang and Zhengzhou, Chief Operating Officer David Lin said.

New World Department Store and rival Parkson Retail Group Ltd had the slowest sales growth in at least three years in the six months to June even as retail spending in the world’s fastest-growing major economy surged 15%.