There is disclosed a coating composition comprising a binder component consisting of (A′) hydroxyl group-containing polyester resin having a number average molecular weight of 2,000-20,000, glass transition temperature of −40° C. to 30° C. and hydroxyl value of 5-95 mgKOH/g, (B) blocked polyisocyanate compound blocked with &egr;-caprolactam, and the equivalent ratio of the blocked isocyanate groups in said blocked polyisocyanate compound (B)/the hydroxyl groups in said polyester resin (A) being in the range of 0.7-1.2, and 0.5-30 parts by weight of said resin fine particles (C) with an average particle diameter of 8-70 &mgr;m, which do not completely melt at the time of coating film curing, per 100 parts by weight of said binder component. Said coating composition can form a coating film having excellent popping resistance. hardness, processibility, anti-tackiness, blocking resistance and curability by a high temperature short time baking.