Efforts have been made aimed at the development of an active active and stable catalyst in the co-production of dimethyl ether (DME) and methanol from CO 2 -H 2 . The stabilities of ZSM-5 catalysts and Cu-ZnO-based methanol synthesis catalysts were investigated separately under water-rich conditions. By combining each stable catalyst, a relatively stable hybrid catalyst, Cu-ZnO-Al 2 O 3 -Cr 2 O 3 H-ZSM-5 (SiO 2 / Al 2 O 3 = 80), has been developed. After losing about 5% of its original activity in 120 h, the catalyst exhibited no significant reduction in activity until 350 h in the reaction at 523 K and 3.0 MPa. Also, the catalytic activity was satisfactory at the steady state: the total yield of DME and methanol was higher than 26% with over 90% DME selectivity, but the total yield of hydrocarbons was lower than 0.25%.