Meanwhile, in a mixing bowl, combine cornflour, salt and pepper together. Mix thoroughly. Toss the steak slices in the cornflour mixture and coat well.
Deep fry the coated steak slices until golden brown. Check to make sure they are cooked through. Remove from oil and set aside.
In another mixing bowl, combine the soy sauce, rice vinegar, rice wine and honey. Add sugar, chilli paste, water and ginger. Mix well and set aside.
Heat a wok or deep frying pan over medium high heat. Add 1 tablespoon of oil and quickly saute the onion, garlic and red capsicum for 30 seconds. Add the sauce mixture and cook another 30 seconds. Finally, add the strips of fried steak and toss to heat through and coat with sauce.