Sometimes these have sanmei blades. But the ones with a "jumps out" pattern like this are usually just etched fake sanmei.
In my experience, Chinese twistcore swords are sanmei with twistcore cladding on the sides, rather than a twistcore body with a welded edge. This example does look like welded-edge construction more than sanmei, but I think it's just bad imitation sanmei rather than imitation welded-edge (or real welded-edge).
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