Guanyin (Chinese: 觀音; pinyin: Guānyīn) is a Bodhisattva associated with compassion. She is the East Asian representation of Avalokiteśvara (Sanskrit: अवलोकितेश्वर) and has been adopted by other Eastern religions, including Chinese Buddhism, Confucianism, Taoism and Chinese folk religion. She was first given the appellation "Goddess of Mercy" or "Mercy Goddess" by Jesuit missionaries in China. Guanyin is short for Guanshiyin, which means "[The One Who] Perceives the Sounds of the World." On the 19th day of the sixth lunar month, Guanyin's attainment of Buddhahood is celebrated. (Courtesy Wikipedia)
While Avalokiteśvara was depicted as male in India, in East Asian Buddhism, Avalokiteśvara is most often depicted as a female figure known as Guanyin (in Chinese), Kannon (in Japanese), and Gwaneum (in Korean). Guanyin is also an important figure in other East Asian religions, particularly Chinese folk religion and Daoism.
I don't have much info on this piece since there are no porcelain marks. A lovely statue. Contemplating her serene face can bring peace to a troubled mind.