Lacquer is a soft finish and not very water resistant. Same with shellac. Polyurethane (varnish) leaves a hard finish and is water resistant, but it's difficult to repair as far as scratches. I use a product called Waterlox, which contains linseed oil and tung oil. Multiple coats leaves a fairly water resistant finish, it's easy to apply, and can be easily repaired (it's not durable like poly). The only question is whether or not you want to apply a stain before the finish. The suggestion of an aftermarket stock is a good one. No telling what the Chinese wood will look like.