A luo pan is a compass and a protractor in one: a stack of concentric rings, each graduated in a different system, read together to fix a direction precisely. The oldest surviving examples date to the Song dynasty, and the instrument is still made by hand today.
This is a decorative reproduction, not a surveying instrument. The needle swings and settles, and it will point north — but the ring markings are ornamental and the housing is not compensated. Sold as a piece of Chinese science history for a desk or shelf. Glass face; handle with care.