Being paranoid about anything with the "Chinese Connection", I would advice thorough but gentle cleaning with WD-40 and a soft cloth. There is a lot of red (fresh?) rust and the Chinese are masters of artificial aging. The handle is of South Indian style, with a convex base, but I have never seen such a long wavy blade on a katar, almost a Moro Kris. Katar is supposed to be a stabbing weapon; this one is mostly a "slasher". My fear is that cleaning might reveal signs of recent "marriage". Look for a rivet of strange coloring, thermal damage etc.
If I am wrong, congratulations, you got yourself a winner!
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