Wuxia characters certainly form together into various martial arts sects, schools, unions, and clans, but what doesn't seem to happen so much is for independent heroes who have different skills, origins, and beliefs to form together like superheroes do into a Justice League or Avengers (awesome movie). The closest thing I think we've seen to that in wuxia was when the three brothers in DGSD, Kiu Fung, Hui Juk, and Deun Yu, came together to fight various enemies in DGSD.
It'd be cool to do a wuxia story in the vein of Justice League or Avengers...separate heroes not part of the same sect/clan, but who is each the best at what he/she does, get together for a common cause.