Multi-instance multi-label (MIML) Active Learning (M2AL) aims to improve the learner while reducing the cost as much as possible by querying informative labels of complex bags composed of diverse instances. Existing M2AL solutions suffer high query costs for scrutinizing all relevant labels of MIML samples, querying excessive bag-label or instance-label pairs. To address these issues, a Cost-effective M2AL solution (CM2AL) is presented. CM2AL first selects the most informative bag-label pairs by leveraging uncertainty, label correlations, label space sparsity, and informativeness from queried instances of the bag, and thus avoids scrutinizing all labels. Next, it queries the most probably positive instance-label pairs of the selected bag-label pair.Particularly, if the feedback is positive, the bag is positively annotated with the label. For negative feedback, it further leverages the label of the neighborhood bags and the label of the nearby instances of queried instances of this bag, if the suggested labels from bag-and instancelevels disagree, CM2AL temporally gives up querying this bag-label pair and moves to another most informativeness one; otherwise, it takes the agreed label to annotate the bag, which further saves the cost by avoiding the excessive query. Extensive experiments on MIML data sets from diverse domains show that CM2AL can more reduce the cost while managing a better performance than state-of-the-art methods, the collaboration between bags and instances contributes to the saved cost.