Heat a large saute pan, cast iron skillet, or electric wok until smoking. Add oil and baby carrots; saute until the color of carrots brightens. Add shrimp and stir fry until about half way cooked (1 minute). Add water chestnuts, snow peas and garlic. Saute briefly.
Add scallions. Add chili paste, ground white pepper, and ground bean sauce. When you smell the "nuttiness" of the ground bean sauce, reduce heat and add sherry.
Pour in the sauce mixture and let boil briefly. Add cornstarch slurry and stir until thickened (approximately 30 seconds).
Serve along with steamed rice and garnish with cilantro.