PURPOSE: To produce in good yields a water-soluble phenolic resin for laminates having a high rate of curing, by using a tert. amine having a b.p. in a specified range as a catalyst.

CONSTITUTION: The desired water-soluble phenolic resin is obtained by using a tert. amine having a b.p. which ranges from the reaction temperature at which the water-soluble phenolic resin is formed to the drying temperature used in the later production of laminates as a catalyst. As regards the boiling point range of the catalyst, the reaction temperature for producing the resin is usually 60W100°C and the drying temperature is usually 140W160°C where steam is used and, therefore, it can be selected from ranges therebetween, depending on the system used.