To obtain the subject aqueous composite resin dispersion that has a proper peel force without adverse effect on the adhesion of the adhesive by constructing a core/shell structure with a specific resin and a specific copolymer.

The objective dispersion is obtained by using (A) a water- dispersible polyurethane resin that includes a perfluoroalkyl group-containing segments, silicone-containing segments and bears carboxyl groups as a hydrophilic group and (B) a copolymer of an ethylenically unsaturated monomer, preferably having a glass transition point of ≥40°C so that they may have a core/shell structure. In a preferred embodiment, the perfluoroalkyl group- bearing segment has a structure of formula I (R2 is a 1-12C alkyl) and the weight ratio of the shell structure to the core structure is 3/7-8/2.