Business English as a lingua franca (BELF) has aroused increasing research interest in the fields of English for Specific Purposes (ESP) and business communication. In China, Business English as an undergraduate program was approved by the Ministry of Education in 2006 and Business English Studies as a discipline and postgraduate program was initiated in 2008. Under this context, the general English (GE) teachers are facing great challenges of identity change and career development bottlenecks in their transition to the Business English (BE) teachers. This paper discusses the professional qualities required of the BE teachers. Based on the status quo of BE teacher development at Chinese universities, it identifies the key challenges of identity transition and career development bottlenecks of BE teachers. The underlying reasons for transition difficulties and bottlenecks are explored and suggestions are put forth from the post-structural and socio-cultural perspectives.