Maybe, but Probably Not
Third party batteries vary in quality and capacity, but their actual danger is massively exaggerated.
Furthermore, the Chinese battery failures generally happen when the device is charging. Unless you have a camera which lets you charge your battery in the camera, even a spectacular failure will not likely damage the camera itself, and such an event is very rare.
Consider how many batteries you have heard of failing, versus the number of third party batteries that have ever been sold (Millions!). I would rate the risk as quite low.