When reacting dialkyl carbonate and an aromatic hydroxy compound in the presence of a catalyst in a reactor, recovering dialkyl carbonate and aromatic hydroxy compound removed from the reactor, and returning it to the reaction system, at least one of the following refinement and recycling processes is conducted : alcohols and alkyl aromatic ethers (anisoles) are separated and removed from the reaction mixture removed from the top of the reactor, and the dialkyl carbonate thus obtained is returned to the reaction systemand alkyl aromatic ethers are separated and removed from the reaction mixture removed from the bottom of the reactor and dialkyl carbonate and/or aromatic hydroxy compound are returned to the reaction system.