Prepare the Meat: Use paper towels to blot the beef strips dry, removing any excess moisture. Coat the beef in cornstarch, making sure each piece is thoroughly covered. Gently shake off any surplus cornstarch.
Brown the Beef: Warm the neutral oil in a large skillet or wok over medium-high heat. Add the beef in small portions, avoiding overcrowding the pan. Cook for 2-3 minutes per side until browned. Remove the beef from the pan and set aside.
Sauté the Vegetables: In the same pan, remove excess oil if needed, leaving about 1 tablespoon. Add the onion and bell peppers. Cook the vegetables for 3-4 minutes until they start to soften. Add the green onions and stir for an additional minute. Transfer the vegetables to a plate and set aside.
Prepare the Sauce: In a small bowl, whisk together the ginger powder (or fresh ginger), minced garlic, soy sauce, water, brown sugar, and Sriracha sauce.
Combine Sauce and Beef: Pour the sauce into the skillet and bring it to a gentle simmer over medium heat. Add the cooked beef back to the pan, tossing to coat in the sauce. Simmer for another 2 minutes to ensure the beef absorbs the flavors.
Add the Vegetables: Return the sautéed vegetables to the pan. Mix all the ingredients thoroughly, ensuring they are evenly distributed and heated all the way through.
Serve: Transfer the Mongolian Beef to a serving dish. Serve hot over steamed rice or noodles.