Bill McDermott on CNBC: Innovating in China, for China

China-SAPPHIRE_CNBC-McDermottSAP Co-CEO Bill McDermott spoke to CNBC about innovation in China, explaining that in order to grow there, a company has to innovate in China, for China, and adopt the country as a “second home.” SAP has created 6,000 development jobs and 60,000 other ecosystem jobs. Along with being part of the community, having a China cloud is vital to success.

In response to a question about why SAP is performing better in China than Cisco and IBM, McDermott explained, “We’re a pure play business software company. We didn’t stray.” He also cited the factors of innovation — 80 percent of net-new sales that SAP achieves today come from businesses it was not in three years ago — and “the greatest database in the world,” SAP HANA.