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

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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