January 5, 2013 / 2:27 PM / 6 years ago

SAP CEO says China to become as important as U.S.: paper

CEO of German software group SAP Jim Hagemann Snabe attends the company's balance sheet news conference in Frankfurt January 25, 2012. REUTERS/Lmar Niazman

FRANKFURT (Reuters) - German business software maker SAP sees potential for one million new customers in China, five times the number it currently has world-wide, German weekly paper Frankfurter Allgemeine Sonntagszeitung said.

“China will be as important for us as the United States,” SAP’s co-Chief Executive Jim Hagemann Snabe told the paper, according to an advance extract.

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

“We want to find a solution with Chinese authorities this year if possible,” Snabe told the paper.

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

Reporting by Edward Taylor; Editing by Ruth Pitchford

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