Hung-Shao-Niu-Jou - Braised Soy Sauce Beef

From Time/Life's Foods of the World - The Cooking of China, 1968:

To Serve 4 to 6 as main course or 6 to 8 as part of a Chinese meal:

2 pounds lean, boneless beef preferably chuck or shin

1 cup water

3 tablespoons soy sauce

2 tablespoons Chinese rice wine, or pale dry sherry

1 tablespoon sugar

1 teaspoon salt

3 tablespoons peanut oil, or flavorless vegetable oil

PREPARE AHEAD:

1. With a cleaver or sharp knife, trim away and discard all the fat from the beef. Cut the meat into 1.5-inch cubes and pat them thoroughly dry with paper towels.

2. Combine the water, soy sauce, wine, sugar and salt in a small bowl.

3. Have the beef, the liquid mixture and oil within easy reach.

TO COOK:

Set a 12-inch wok or 10-inch skillet over high heat for about 30 seconds. Pour in 2 tablespoons of oil, swirl it about in the pan and heat again for 30 seconds, turning the heat down to moderate if the oil begins to smoke. Drop in half of the meat cubes and stir-fry over high heat for 2 minutes, or until the pieces are lightly brown on all sides, then transfer them with a slotted spoon to a heavy 2- to 3-quart saucepan. Add the remaining 1 tablespoon of oil to the pan and brown the rest of the meat. When the cubes are browned, return the first batch to the pan, add the liquid mixture and toss together thoroughly so that the meat is well moistened. 

Bring to a boil over high heat, cover the pan and reduce the heat to low. Let the meat cook for about 1.5 hours, adjusting the heat to keep the liquids simmering slowly and stirring occasionally to prevent the meat from sticking to the pan. The liquid will reduce to about 1/2 cup of rich sauce. Serve the meat on a heated platter with its sauce poured over it.