In the administrative district ofThuin, the municipality was created with a merger of 14 communes in 1977. TheTrappist monastery ofScourmont Abbey in the town is famous for theChimay Brewery.
Chimay has traditionally hosted an annualmotor racing event, run on astreet circuit formed from local public roads. From the 1920s to 1960s the event was run for contemporaryGrand Prix andsportscar categories, and included the famousGrand Prix des Frontières. In recent times, while the event has persisted it has been run for historic race series. The track briefly lost its licence in 2006 related to safety fears, but has since had it reinstated.