chain is galvanised steel of some sort. solvents won't hurt it, but manufacturers discourage users because solvents can harm other parts on bikes, like rubber and paint.

I respect Sheldon's opinion but if a regular cyclist worries about chain getting bust by debris and dust from the road, then thrashing it in a bottle with all that grit isn't a good idea. get a tall container, like motor oil bottle. you can take off the chain or remove jockey sprockets to get it just hanging from a chainring. zig-zag it in the container filled with white spirit or gasolene and gently brush it with a nylon brush.

but hey what works for you is best for you. after all chains are relatively cheap, I just recently bought a new shimano HG50 8 speed for 8€