The invention discloses a paste composition for PVC (Polyvinyl Chloride) foaming wallpaper, and relates to the technical field of wallpaper paste. The paste composition is prepared from the followingraw materials: PVC paste resin SG-5, terpene resin, plasma modified boron fibers, samarskite powder, porous basalt, chlorite, expandable graphite, Wudalianchi lake pozzolana, ITO powder, diacetone acrylamide, polyvinyl acetate, polyvinyl alcohol, a dispersing agent, a foaming agent, a foam stabilizing agent, a cross-linking agent and a coupling agent. The paste composition disclosed by the invention has the advantages of simple preparation, greenness and environmental friendliness, and excellent durability and functionality; the environmental pollution problem caused by electromagnetic wave energy transfer and radiation is solved to a certain extent, so that the interference damage of electromagnetic waves to surrounding equipment and a human body is greatly reduced.