Right behind Feng in second place is Lizette Salas at 14-under 202 after a 67. Suzann Pettersen of Norway is alone in third, two behind the leader, after a 69.
Feng gained a share of the lead when she birdied the par-5 18th hole after also getting a birdie on the 17th. Salas fell out of the lead when she bogeyed the final hole.
"I started the round a little slowly," Feng said. "I was only 1 under through eight holes and then I made two putts in a row on the ninth and 10th. After that, I was just feeling like, 'Oh, I can start making birdies,' and I was more comfortable."
If Feng is able to maintain the lead on Sunday, it will be her third win and 11th top-10 finish in 15 events since winning a bronze medal at the Olympic Games last summer in Rio. Her last two starts ended in a tie for fifth and a tie for 10th.
"I'm starting to hit the ball more like what I normally do because at the beginning of the year when I was in Asia, I was hitting the ball all over and I almost lost myself," Feng said.
"Then I think I made a little adjustment on my swing and I got it back and I'm hitting the ball really well and rolling the putts also. So I'm really happy about the condition right now."
Rookie Sun Hyun Park, the second-round leader, trails Feng by three shots going into the final round.
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