Melt post‐polycondensation (MPP) process is one of manufactures industrially that can efficiently increase the molecular weight of polycarbonate (PC). Herein, the MPP experiments of several PC materials using quaternary ammonium hydroxides and alkali metal compounds as the catalyst in the film state are studied. The reaction products are characterized by Ubbelohde viscometer, DSC, 1H‐NMR, ultraviolet spectrophotometry, advanced polymer chromatography and rotational rheometer. It is found that MPP can effectively improve the intrinsic viscosity of PC. After a certain reaction time at a specific temperature, the number average molecular weight (Mn) of PC is raised from 19,000 to 54,600 g/mol. Furthermore, the 1H‐NMR results reveal that Fries rearrangement products are produced during the MPP process. Based on the functional group model, a reaction kinetic model, combining the effects of the main melt polycondensation reaction and the Fries rearrangement reaction, is established for the first time. The reaction rate constants at different temperatures and the reaction activation energies of the two PC materials are obtained. This work provides a new reaction kinetics model to guide the MPP process of PC, which contains Fries rearrangement reaction.