Cheng was responsible for launching and designing the FT's Chinese , which currently has more than 450,000 registered users.
He will begin his new job in London in August, where he will report to John Ridding, the newly appointed chief executive of the FT, and will have a place on the FT's management board.
Cheng has been with Pearson, publisher of the FT, since the beginning of his career when he worked on Pearson Broadband before moving to the FT's editorial team, where he led the title's product development in New York and Hong Kong.
In March, the FT.com announced a series of high-profile changes, including the replacement of editor Simon Targett, who was in charge for less than a year, with its US news editor James Montgomery.
Rob Minto was made interactive web editor for the FT.com in January.
The FT has also said that Nigel Pocklington, the current director of online publishing and the commercial head of FT.com, is to adopt what it has described as an "FT Group strategy role".
Ridding said: "The development of the FT.com is a priority for us, and we must be leaders in international business news and analysis online, as well as in print.
"Ien is the right person to lead FT.com to the next stage of its development."
Cheng said: "These are exciting times for digital media and the FT.com is well placed to make the most of the many opportunities presented in the digital era."
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