Chi running, which focuses on running form can indeed reduce injuries by virtue of the fact that most running injuries are results of poor running form, too much too soon or overuse.
The idea of making contact with the ground with the joints bent so as to reduce the impact on the joints and to leverage the soft tissue of the legs to both absorb the impact as well as propel the body forward can reduce injuries, it is easily understandable when considering that soft tissue (ligaments,tendons and muscle) heals and strengthens itself faster because of the higher blood flow when compared to the low to inexistent blood flow to various parts of hard tissue(bone) and joints.
Avoiding over-striding by making contact with the ground right below the center of gravity is also one of the ideas that helps.
This combined with minimalist to barefoot footwear can strengthen the bones, tendons, ligaments and muscles of the feet, lower legs, upper legs, hips etc.
Care should be taken however, not to push too hard, too soon as strengthening takes time and regardless of the type of running style, overuse can cause injuries.