Cubes of pork belly with the skin on, braised in soy sauce and caramelised sugar until glossy and reddish-brown. Soft, fatty, sweet and savoury. The red comes from the sauce, not chili, though Hunan versions add a little.
Red-braised pork calls for pork belly with the skin on.
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红烧 means braising in soy sauce and sugar. The "red" is the reddish-brown color they give the meat, not chili, so the dish is usually sweet and savory rather than spicy.