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Replacing GDR-made pick-ups with Chinese ones

Hi everybody!
I've got an old Musima Action Bass - a variation of P-bass with a split-coil. Made in now-deceased German Democratic Republic.

The thing is it's pick-up is too weak and pots are noisy, so I'm thinking on repair. Given the price of the stick (about $100) I'm not ready to spent too much on it. I can afford a Chinese pick-up under $50, plus new pots and capacitor in the filter.

Have anybody run across old East German pick-ups and how do you think, is such a replacement worthy? Is it going to give me a better sound?