China to become as important as United States, says SAP CEO

  • German business software maker SAP says China has the potential to create one million new customers, according to a report by German weekly paper Frankfurter Allgemeine Sonntagszeitung.

    The figure is five times the number the firm currently has world-wide.

    "China will be as important for us as the United States," SAP's co-Chief Executive Jim Hagemann Snabe told the paper.

    Snabe added SAP wants to open the Chinese market by securing a deal with the government to allow cloud computing services.

    As part of its growth strategy, SAP plans to invest around $2 billion in China by 2015.