The German software company SAP is still hopeful about the Chinese market despite other multinationals signaling slower demand from the world's second-largest economy.
Apple, Nvidia and Caterpillar have all blamed recent weak earnings on the slowing Chinese economy which registered a growth rate of 6.6 percent in 2018 — the lowest in 28 years. Economists argue that the ongoing trade war with the United States is one key factor behind the downshift.
However, SAP's CEO Bill McDermott told CNBC Tuesday that China is still "the jewel in the crown" for the company.
"We are not having challenges in China — we are doubling down in China," he said, adding that Beijing is the fastest growing market for the German firm.