Position a rack in the lower third of the oven and preheat to 350 degrees . Grease and flour a 10-cup bundt pan. In a bowl, whisk together the flour, five-spice powder, baking soda, salt and pepper.
Using a food processor, mix the granulated sugar and ginger until the ginger is coarsely ground.
Using an electric mixer, beat the butter, sugar-ginger mixture and vanilla at high speed until fluffy, about 5 minutes. With the mixer at medium speed, add the eggs 1 at a time, beating well after each addition. Mixing at low speed, add the flour mixture alternately with the molasses in 3 batches until combined. Transfer the batter to the prepared pan and bake until the cake begins to pull away from the side of the pan and is springy to the touch, about 1 hour. Transfer to a rack to cool for 20 minutes, then invert the cake onto the rack and let cool completely. Dust with the confectioners' sugar.