The present invention provides a powder coating having an excellent curability which can be baked without evaporation of a blocking agent as compared with the conventional powder coating to provide a coat having an excellent yellowing resistance an improved smoothness and weather resistance. A novel powder coating containing, as a main component, a polyester resin composition is provided, comprising (A) an alkenyl group-containing polyester resin with a number-average molecular weight of from 500 to 100,000 having at least 1.2 alkenyl groups on the average per molecule, (B) a Si--H group-containing curing agent having at least two Si--H groups per molecule, and (C) a catalyst active in hydrosilylation.