SHANGHAI, 1 Nov, 2014 (AFP) - The Frenchman dominated for a third day, returning a nine-under card of 63 to follow his 65 and 66 in the opening two rounds to stand at 22 under par with 18 holes left Sunday in the $7 million European Tour flagship event.
Germany's Marcel Siem moved into third on his own after a 65, but is five back from Levy on 17 under.
Another Ryder Cup star Justin Rose is two shots further away on 15-under even though he fired in a sublime eight-under 64 which he reckoned "could have been five shots better".
"I missed about five putts inside eight feet," he told AFP.
Donaldson, who started the day five adrift of Levy, equalled his own course-record 62 set here at Lake Malaren two years ago, though Saturday's effort will not enter the record books as it was played under the "preferred lies" wet weather rule.
The Welshman played the shot of the day at the par-four 16th, spinning his approach shot back into the cup for an eagle two.
"I had 142 yards to the flag, slightly uphill into the wind which was a soft nine-iron and it came off spot on," he told reporters.
"It's quite a narrow entrance into that green from where I was. But pitched perfect and obviously it's a bonus to see it go in."
It capped a remarkable back nine of 30 to add to his 32 outward half.
The soft conditions after three days of rain, little wind and the ability to lift, clean and place balls on the fairways has turned this year's opening event in the European Tour's big-money "Final Series" into a big-hitters' shoot-out. And Levy is clearly loving the conditions.
"Yes, it's true. I like the target golf where I can play exactly the number (yardage) for me," the Frenchman, who won the Portugal Masters last month in similar soft and wet conditions, told reporters.
"I have enjoyed a lot the way I played the first three rounds. I will look to do my best tomorrow and try to play the same golf and to be aggressive again."
The highlight of Levy's round was a monstrous 40-foot birdie putt on the par three sixth over a hump and downhill.
"It was a very tough putt downhill like one and half metres of break on it," Levy said. "When you hole a putt like that you are a little bit surprised, but it was a good putt and it was the putt I want to hit."
Leading scores on Saturday after the third round of the European Tour’s $7 million BMW Masters at Lake Malaren Golf Club in Shanghai (par 72):
194 - Alexander Levy (FRA) 65-66-63
198 - Jamie Donaldson (WAL) 68-68-62
199 - Marcel Siem (GER) 68-66-65
201 - Justin Rose (ENG) 72-65-64
203 - Emiliano Grillo (ARG) 66-68-69, Nicolas Colsaerts (BEL) 66-64-73
204 - Graeme McDowell (NIR) 67-69-68, Romain Wattel (FRA) 66-67-71
205 - Joost Luiten (NED) 72-69-62, Robert Karlsson (SWE) 69-70-66, George Coetzee (RSA) 71-67-67, Ryan Palmer (USA) 70-67-68, Mikko Ilonen (FIN) 70-66-69, Ross Fisher (ENG) 70-67-68, Branden Grace (RSA) 68-66-71
206 - Richie Ramsay (SCO) 69-68-69, Ernie Els (RSA) 69-68-69, Darren Fichardt (RSA) 69-68-69, Thomas Bjorn (DEN) 68-67-71.
Selected others:
208 - Victor Dubuisson (FRA) 70-70-68
210 - Thongchai Jaidee (THA) 71-70-69
213 - Ian Poulter (ENG) 74-69-70