With the advent of the sharing economy, the university libraries and community libraries in China have a broader space for cooperation in management mode and service innovation. Studying collaborative development path and trying innovative projects will help deepening the two sides' mutual benefit. This paper analyzes the background of the collaborative development of the two sides, and puts forward realization path of the collaborative cooperation on the basis of discussing the predicament and outlet of the two sides. Firstly, collaborative space rectification: building a shared space with the standard of the book fragrance post station; secondly, collaborative mobile service: building a ubiquitous library with the carrier of "library +"; thirdly, collaborative reading promotion: take innovation "reading +" as an opportunity to achieve reading. It focuses on introducing special services such as shared bookstore, palm library and ten minutes reading circle.