This work develops a node-edge co-evolution model for attributed graph transformation, where both the node and edge attributes undergo changes due to complex interactions. Due to two fundamental obstacles, learning and approximating attributed graph transformation have not been thoroughly explored: 1) the difficulty of jointly considering four types of atomic interactions including nodes-to-edges, nodes-to-nodes, edges-to-nodes, and edges-to-edges interactions. 2) the difficulty of capturing iterative long-range interactions between nodes and edges. To solve these issues, we offer a novel and scalable equilibrium model, NEC ∞ , with node-edge message passing and edge-node message passing. Additionally, we propose an efficient optimization algorithm that is based on implicit gradient theorem and includes a theoretical analysis of NEC ∞ . The effectiveness and efficiency of the proposed model have been demonstrated through extensive experiments on synthetic and real-world data sets.