Mickelson's 5-under-par 67 Saturday put him at 14-under for the tournament and vaulted him past second-round leaders Tiger Woods and Nick Watney, who each shot 70 Saturday and are at 12-under.
Mickelson and Woods -- the world's top two golfers -- are paired with each other for Sunday's final round at the Sheshan International course.
Ryan Moore, at 11-under, is in fourth place and Lee Westwood had a 7-under 65 Saturday to move to 10-under for the tournament.
Mickelson started the day hot, getting birdies on three of his first four holes but he gave a stroke back at No. 9 -- only his second bogey of the week. After four pars, Mickelson had birdies at Nos. 14-15 to move into the lead and a birdie at 18 made it a 2-stroke advantage.
Woods had two bogeys in a three-hole span but offset that with four birdies.
Watney was even on the day -- three birdies, three bogeys and 11 pars -- before he dropped a long putt for eagle at No. 18 to keep within striking distance.
Copyright 2009 by United Press International.
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