Anything is possible with NORINCO, if there is some profit to be made
The M305 is a fine example of what they can do.
It's cheaper to produce than an M1 Garand or Carbine but I'm sure they could cut corners if there was enough demand.
Rumor has it that they won't be shipping any more M305s to North America. I honestly don't know if that's true.
I remember Marstar was going to bring some in from Italy (3 X the price) but that seems to have evaporated as well. Maybe, they were trying to get into the US markets?
Norinco Garands and M1 Carbines would be very nice at reasonable prices, like the M305.
$350-$400 would be a very decent price for a newly manufactured Garand or non restricted Carbine.
As for the Carbines being chambered in 7.62x25, they would have to modify the piston assembly under the barrel. The way it's made and pinned would make it very hard to clean out the corrosive elements in the surplus ammunition.
Leave well enough alone. It works very well the way it was first built.
I've seen two of the M1 Carbines that Lever Arms brought in several years ago.
Both of them were barely operable. The operating pistons were extremely rusty and the bores were pitted/without any rifling visible.
If enough M1 Carbines come into the country, the ammunition will follow and be readily available.
A nice 38 Super would be nice though.