Star Bank announced today that Lin Shiwei, vice president and chief financial officer of Xiaomi Group, officially became chairman of the board on June 23, 2021, and thanked Lei Jun, the outgoing chairman, for his contribution to Star Bank. Lei Jun will continue to focus on Xiaomi Group's business development and new product development, while continuing to support the development of Star Bank at the Xiaomi Group level.

Star Bank Limited is jointly established by Xiaomi Group and Shangcheng Group. The Star Bank was granted a banking licence by the Hong Kong Monetary Authority on 9 May 2019.

On June 11, 2020, Star Bank (airstar) officially opened, becoming the second virtual bank in Hong Kong and another drop in the financial industry after the opening of Xiaomi consumer finance in Chongqing on May 30th.

Lei Jun, chairman of Star Bank, chairman and CEO of Xiaomi, said on the social platform: "this is a new milestone for Xiaomi's financial business."