Heat oven to 375°F. Spray 15x10x1-inch pan with cooking spray. In large bowl, mix beef, bread crumbs, salt, garlic powder, ginger and egg until well blended. Shape into 1-inch meatballs; place in pan.
Bake 20 to 25 minutes or until no longer pink in center and juice is clear; drain.
Mix preserves, hoisin sauce, vinegar and red pepper in 2-quart saucepan. Cook over medium-low heat, stirring occasionally, until hot. Add drained meatballs and bell pepper. Cook until bell pepper is crisp-tender. Serve with cocktail toothpicks if desired.