Over the past 50 years, China's initial teacher education (ITE) system has undergone significant changes and improvements. To review and reflect on these experiences, we construct a multi-level, context-specific conceptualisation of ITE professionalisation. Guided by this framework, we segment the history of ITE professionalisation into three phases: the specialising phase (1974-1998), the upgrading phase (1998-2012), and the quality-equity balancing phase (2012-present). The specialising phase is characterised by a single-purpose ITE system that is directly governed by educational authorities. The upgrading phase involves a policy-driven enhancement of ITE within higher education institutions and the transition from single-purpose to general-purpose institutions, reflecting broader transformations in higher education policies in China. The quality-equity balancing phase focuses on policies aimed at improving the quality of ITE while ensuring equitable access to high-quality teachers in underdeveloped regions and hard-to-staff rural schools. Our historical review contributes new insights into ITE research, offers practical implications for ITE reform and improvement, and raises questions for further investigation of ITE in both the Chinese context and internationally.