In large bowl, beat butter, granulated sugar, lemon peel and egg yolk with electric mixer on medium speed. Stir in 1 1/4 cups flour and the five-spice powder until dough holds together. Stir in ginger and pecans.
Place dough on smooth surface sprinkled with 1 tablespoon flour. Divide dough in half. Shape each half into 6-inch log. Wrap in plastic wrap; refrigerate 1 hour.
Heat oven to 350°F. Grease cookie sheet with shortening or cooking spray, or line with cooking parchment paper or silicone baking mat.
Cut dough into 1/4-inch slices.
Place 1 inch apart on cookie sheet.
Bake 8 to 10 minutes or until light golden brown.
Remove from cookie sheet to cooling rack. Cool completely, about 30 minutes.
In small microwavable bowl, microwave baking chips uncovered on High 30 to 60 seconds, stirring once, until softened and chips can be stirred smooth. Stir in powdered sugar and water.
Add additional water, if needed, to achieve glaze consistency.