PURPOSE: To obtain ethylene glycol directly in high yield, by reacting formaldehyde with carbon monoxide and hydrogen in the presence of a catalyst obtained from a rhodium compound and an alkali metallic compound.

CONSTITUTION: Formaldehyde is reacted with carbon monoxide and hydrogen in the presence of a catalytic system consisting of a rhodium compound and an alkali metallic compound, preferably at a ratio of the alkali metallic compound to the rhodium compound to give a ratio between the numbers of gram-atoms of alkali metal in the carboxylic acid salt and rhodium in the rhodium compound of 0.03W0.30 preferably at about 80W250°C to give the titled compound. The molar ratio between the carbon monoxide and the hydrogen gas to be fed is usually about (1/4)W(4/1).