This study explored how a learning community was formed and evolved among Chinese and American teacher candidates through a virtual exchange (VE) project embedded in teacher education courses, and how the VE project could support candidates to develop globally competent teaching. Data were collected through pre- and post-surveys, Zoom recordings, peer feedback on lesson plans and recorded teaching segments, and final interviews. Findings indicated that the VE project helped form an authentic platform for in-depth discussions around the topics of language teaching and lesson planning. Abundant evidence related to globally competent teaching and limitations are also detailed in the study.