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Title page 1

Contents 2

KEY TAKEAWAYS 1

INTRODUCTION 3

FALSE FLAG COMPANY EXAMPLES 4

Continental Aerospace Technologies (CAT) 4

California Manufacturing & Engineering Company (CMEC) 8

Farasis Energy 12

UNDERSTANDING PATTERNS OF CHINESE ECONOMIC OBFUSCATION 17

Defining Nefarious Economic Obfuscation 17

Branding vs. Obfuscation 17

China vs. Other Countries 17

Noncritical vs. Strategic Sectors 17

Shifting Tactics of Obfuscation 17

Gaps in U.S. Oversight 18

POLICY RECOMMENDATIONS 19

CONCLUSION 22

ENDNOTES 23

Tables 15

Table 1. Farasis Energy, Chinese government beneficial ownership 15

Figures 4

Figure 1. Continental Aerospace Technologies' logo, 2025 4

Figure 2. Continental Aerospace Technologies' website detailing AVIC's 2011 acquisition 5

Figure 3. Early Swedish hydraulic lift, 1929 8

Figure 4. Dingli's AWP product lineup 9

Figure 5. MEC's logo as of 2025 9

Figure 6. CMEC's logo as of 2025 9

Figure 7. Dingli's Iron Army training camp 10

Figure 8. Redacted mention of Wang's TTP induction 13

Figure 9. China's former premier, Li Keqiang, inspecting Farasis Energy's facilities, 2016 14

Figure 10. U.S. government and USCAR funding awarded to Farasis Energy, 2002-2023 16