In a mixing bowl, combine hoisin sauce, soy sauce, honey, rice wine, oyster sauce, sesame oil, minced garlic, five-spice powder, white pepper, and red food coloring (if using). Mix well to create the marinade.
Place the thinly sliced pork into a large resealable plastic bag or a shallow dish. Pour the marinade over the pork, ensuring each piece is evenly coated. Marinate in the refrigerator for at least 2 hours, or preferably overnight, to allow the flavors to penetrate the meat.
Preheat your oven to 375°F (190°C). Line a baking sheet with aluminum foil and place a wire rack on top. Arrange the marinated pork slices on the wire rack, leaving space between each piece.
Bake the pork in the preheated oven for 20-25 minutes, or until the edges are slightly caramelized and the pork is cooked through. You can also broil for an additional 2-3 minutes to achieve a more charred exterior, if desired.
Once baked, remove the char siu from the oven and let it rest for a few minutes. Garnish with sliced green onions and toasted sesame seeds if desired.
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