The red part is the Chinese Sausage. I've only seen this kind in grocery stores but they are all of this variety. This kind hails from southern China. I'm sure there are other types, but this is the most prevalent variety.
In Cantonese, this is called "lap cheong". In my minor dialect of Chinese, it's called "gong chiang".
It's salty with a sweet vinegary flavor. There's usually marbled fat throughout the sausage. The bite is chewier than a standard Italian sausage, more like jerky but not as dry.
It was my bacon growing up and my family used it as such. It's delicious and every time I have it, I'm transported back to my childhood. But I try to stay away from heavily processed foods and leaning more vegetarian/vegan as I'm approaching seniority.
Filipinos have a sausage with a similar taste profile called Longganisa. It's usually more stout in shape and more tender than a Chinese Sausage.
Oh I love kway teow. Sigh. . . The balance between health and happiness is a hard line to tow.