A process for producing ethylene glycol includes contacting an oxalate with a fluidized bed catalyst under the following conditions: a reaction temperature of from about 170 to about 270° C., a weight space velocity of oxalate of from about 0.2 to about 7 hours−1, a hydrogen/ester molar ratio of about 20˜200:1, a reaction pressure of from about 1.5 to about 10 MPa, and a reaction temperature difference T of from about 1 to about 15° C. The fluidized bed catalyst includes: a) from about 5 to about 80 parts by weight of copper and the oxide thereof, b) from about 10 to about 90 parts by weight of at least one carrier selected from silica, molecular sieve or alumina, c) from about 0.01 to about 30 parts by weight of bismuth and tungsten metallic elements or the oxides thereof, or cerium and niobium metallic elements or the oxides thereof.