Polyester resin aqueous dispersion

An aqueous dispersion of polyester resin which comprises

• (A) a crystalline polyester having a molecular weight of 2,500 to 30,000 and a melting point of 70.degree. to 200.degree. C. and, comprising polycarboxylic acid components consisting of 40 to 99.5% by mole of an aromatic dicarboxylic acid having no metal sulfonate group, 59.5 to 0% by mole of an aliphatic or alicyclic dicarboxylic acid having 4 to 36 carbon atoms and 0.5 to 10% by mole of an aromatic dicarboxylic acid having a metal sulfonate group, and polyol components consisting of 20 to 100% by mole of an aliphatic glycol having 2 to 8 carbon atoms and/or an alicyclic glycol having 6 to 12 carbon atoms and 80 to 0% by mole of bisphenol A ethylene oxide or propylene oxide adduct,
• (B) a non-crystalline polyester having a molecular weight of 2,500 to 30,000 and a softening point of 60.degree. to 180.degree. C. and comprising polycarboxylic acid components consisting of 40 to 99.5% by mole of an aromatic dicarboxylic acid having no metal sulfonate group, 59.5 to 0% by mole of an aliphatic or alicyclic dicarboxylic acid having 4 to 36 carbon atoms and 0.5 to 10% by mole of an aromatic dicarboxylic acid having a metal sulfonate group, and polyol components consisting of 20 to 100% by mole of an aliphatic glycol having 2 to 8 carbon atoms and/or an alicyclic glycol having 6 to 12 carbon atoms and 80 to 0% by mole of bisphenol A ethylene oxide or propylene oxide adduct,
• (C) a water-soluble organic compound having a boiling point of 60.degree. to 200.degree. C., and
• (D) water, said components (A), (B), (C), and (D) being incorporated in the following weight ratio:
• A/B=0-95/100-5 (1)
• A+B/C/D=10-70/2-40/20-88 (2)
• 0. 02.ltoreq.C/C+D.ltoreq.0.66. (3)