What she said pretty much matched my expectations. For private jiao-yu, the standards are set by the business itself. Usual is a BA, and experience preferred, but as long as the teacher can pass the interview (fluttering eyelashes) she/he can get a job. My experience (back in the day) is that the quality of these teachers varied greatly, but the better schools invested in good teachers and profited by that.
In state schools of course the standards are a teaching degree and successful completion of a competitive English language exam. (I have forgotten the names of the exams and levels) Please note that passing Chinese competitive exams has little or nothing to do with linguistic competence. But getting a degree from a teaching university pretty much guarantees competent classroom management.