This statuette is of Kuan Yin, the Chinese Goddess of Mercy and Compassion. Kuan Yin is the most widely recognized female deity in East Asia, and has a male counterpart in Tibetan Buddhism, Avalokiteshvara. Her name translates as "One Who Hears the Cries of the World" and you will often see shrines and gazebos dedicated to her in Buddhist temples.