After entering the 21st century, a series of standards have been developed to build a standards-based quality assurance system for teacher education in China. The building of quality assurance system for teacher education has made some achievements, but it also faces some problem. At present, the building of high-quality teacher education system has been determined as the most important task in the reform and development of teacher education in China. This requires us to improve the quality assurance system for high-quality teacher education on the basis of reflecting on the existing system building. Based on documentary analysis the paper examines the building process and compositions of the standards-based quality assurance system for teacher education in China, and analyzes the problems and challenges of the existing system and puts forward some suggestions on building a quality assurance system for teacher education based on development-oriented teacher professional standards.