This chapter deals with the theoretical patterns of regional economic development and analyses the relationship between the patterns and institutional transitions. It summarizes several typical regional economic development patterns and the characteristics of different patterns，which is demonstrated by a case study of comparative analysis in the latter parts. The evolutional road of unique regional economic development pattern is determined by the path of continuous ownership reform. Pursuit of maximized benefit both for local government and the masses leads the institutional transition of local governance，and then in consequence promotes the local economic development pattern to come into being. From theoretical analysis and empirical study，this chapter reaches the conclusion that advantages for development caused by institutional superiority are petering out and the marketization will be the fundamental trend of regional economic development pattern in China under the control of the market’s invisible hand.