Add oil, doubanjiang, and black bean sauce in a medium size skillet and heat over medium heat until simmering. Turn to low heat. Cook and stir for 1 to 2 minutes, until the oil turns red and the sauce is very fragrant.
Add ginger, garlic and shaoxing wine. Keep stirring and cook for 1 to 2 minutes, to evaporate the alcohol. If the sauce turns a bit dry and starts to stick to the pan, add more water to deglaze, 2 to 3 tablespoons at a time.
Turn off heat. Stir in the sweet bean sauce and sugar, mix well. Transfer the sauce to a bowl to cool off. Store in a clean jar in the fridge for up to 1 month in the fridge or 3 months in the freezer.
Now you can use this sauce in other stir fry dishes, as a veggie dipping sauce, or add it on top of roasted veggies.