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Step 1
Thinly slice the flank steak against the grain, and then cut those slices lengthwise into thin strips. (This is easier to do when the meat is partially frozen.)
Step 2
In a medium bowl, add the strips of flank steak, water, cornstarch, oil, oyster sauce, and light soy sauce. Set aside for 20 minutes to marinate at room temperature.
Step 3
Place your wok over high heat until it’s almost smoking. Add 1 tablespoon of oil and tilt the wok to spread it evenly around its perimeter. Add the beef in 1 layer, and let it sear for 30 to 40 seconds without moving, then stir- fry for another 30 to 40 seconds, until the beef is browned but still a bit rare. Remove the beef from the wok and set aside.
Step 4
Let the empty wok heat again over high heat, and add the remaining tablespoon of oil, along with the garlic and peppers. Stir-fry for 20 seconds, then add the Shaoxing wine to deglaze the wok. After another 20 seconds, add the bamboo shoots.
Step 5
Add the beef back to the wok, along with any residual beef juices. Add the salt, sugar, light soy sauce, and dark soy sauce. Increase the heat to high, and stir-fry for another minute. Serve with steamed rice.