Preheat oven to 375 degrees F. Trim fat from meat. Cut meat into 3/4-inch pieces. In an extra-large skillet, heat 2 tablespoons of the oil over medium-high heat. Cook meat, half at a time, in hot oil until brown. Transfer meat to an ungreased 3-quart rectangular baking dish. Stir in carrots, sweet pepper, and water chestnuts.
Add the remaining 1 tablespoon oil to skillet. Add onion; cook just until tender. Add rice; cook and stir for 1 minute. Stir in broth, water, soy sauce, molasses, corn syrup, chili paste, and five-spice powder. Cook and stir just until mixture comes to boiling. Carefully add to meat mixture; stir to combine.
Bake, covered, about 1 hour or until meat and rice are tender. Let stand, covered, for 10 minutes before serving. Stir gently. Sprinkle with green onions. Makes 6 servings.