In Japanese the cat with raised paw is called “maneki neko” (“beckoning cat”). In the West, we beckon people by holding the hand with palm facing up and moving the fingers (as popularised by Neo and Morpheus in the Matrix films). In Japan, people beckon by holding the palm facing down or forwards (like the cat) so it looks as if they’re waving. I wonder if the Chinese do the same?
Note that maneki neko should not be confused with Hello Kitty.