In a medium bowl, whisk together the soy sauce, Chinkiang vinegar, sweet chili sauce, brown sugar, garlic powder, red pepper flakes, ground ginger, and water until smooth.
In a separate small bowl, mix the cornstarch with a tablespoon of water to create a slurry.
Pour the combined mixture into a small saucepan over medium heat. Stir continuously until it begins to simmer.
Once the sauce is simmering, slowly whisk in the cornstarch slurry. Continue to stir until the sauce thickens, about 2-3 minutes.
Remove the saucepan from heat and allow the sauce to cool. Transfer it to a storage container and refrigerate.
