Catch up on all the key stats from the match here.
Live commentary
Arsenal win the Community Shield!
ARSENAL: Goal! Fabio Vieira lashes the penalty into the top left corner, giving the keeper no chance.
CITY: Miss! Penalty saved! Rodri sends the penalty low towards the middle of the target, but Aaron Ramsdale doesn't move and easily saves the effort.
ARSENAL: Goal! Bukayo Saka gives no chance to the goalkeeper with his perfectly executed penalty kick.
CITY: Goal! Bernardo Silva executes the penalty kick with ease.
ARSENAL: Goal! Leandro Trossardleaves the keeper helpless with his precise penalty shot inside the right post.
CITY: Miss! Kevin De Bruyne failed to convert his penalty kick as he couldn't stay cool.
ARSENAL: Goal! Martin Odegaard runs up to the ball, stops and waits for Stefan Ortega to commit before slotting the penalty into the left of the goal.
The penalty shootout is about to start, so this is the moment of truth to see which players will end the match as winners.
90+13' The referee blows his whistle to signal the end of the second half, with no clear winner in the 90 minutes - we go to penalties.
90+11' GOAL 1-1.
Bukayo Saka passes the ball to Leandro Trossard and he fires in a shot from the edge of the box which is deflected. Stefan Ortega couldn't do anything about it. 1-1.
89' Mikel Arteta decides to make a substitution. Kai Havertz will be replaced by Fabio Vieira.
89' The referee stops play so that a substitution can be made and Emile Smith Rowe replaces Gabriel.
87' Rodri jumps for a header from the resulting corner kick and sends the ball in on goal, but the goalkeeper makes a very good save.
83' A defence-splitting pass is taken in his stride by Phil Foden in the box. Without even looking up he drills a shot low towards the middle of the goal, but Aaron Ramsdale pulls off a comfortable save.
81' Today's match ends for Declan Rice who will be replaced by Eddie Nketiah.
78 ' GOAL! 1-0 City.
Cole Palmer gets a shot away from the edge of the box and scores into the top left corner. Kevin De Bruyne provided an assist for the goal.
77' Another substitution. Jurrien Timber is replaced by Kieran Tierney
76' Substitution for Arsenal. Leandro Trossard on, Gabriel Martinelli off.
66' Gabriel receives a yellow card.
65' Here is another change. Mateo Kovacic is going off and Pep Guardiola gives the last tactical orders to Kevin De Bruyne
58' The referee allows time for a substitution. Jack Grealish will be replaced by Phil Foden
54' John Stones peeled away from his marker and got on the end of a corner, but his fine header towards the underside of the crossbar is perfectly saved by Aaron Ramsdale.
46' The referee blows his whistle to signal the start of the second half.
45+4' The referee blows his whistle for half-time, bringing to a close the first 45 minutes of the match.
40' A fine pass finds Kai Havertz in space inside the box, he looks up and drills a low shot towards the middle of the goal, but the Stefan Ortega reacts superbly to deny him.
32' Julian Alvarez is given a yellow card for kicking the ball away.
27' Kai Havertz receives a yellow card from the referee for a foul on John Stones.
25' Gabriel Martinelli reacts well to get to the rebound and takes a shot from the edge of the box, but he fails to get the ball through the players standing between him and the goal.
25' Kai Havertz had time and space inside the box after picking up a neat pass, but his shot low towards the middle of the goal was comfortably saved by Stefan Ortega.
18' Referee Stuart Attwell halts the game and wanders over to the touchline to talk to Mikel Arteta, then shows him a yellow.
15' The corner from Jack Grealish is hurriedly cleared.
14' Rodri shoots after receiving a good pass. His effort from the edge of the box goes just wide of the left post.
8' Thomas Partey has to be very careful for the rest of the match after receiving a yellow card from the referee for a bad tackle on an opponent.
1' The first half has just begun.
Line-ups
Preview
Despite the incredible success of the 2022/23 campaign, it’s not been the easiest summer for City, losing key players İlkay Gündoğan and Riyad Mahrez, while their only arrival at this stage is Mateo Kovačić from Chelsea.
Regardless, huge quality remains in Pep Guardiola’s squad, underlined by their imperious run to the treble that saw them lose just one of their last 26 matches of the season (W20, D5).
Remarkably, this will be City’s 16th appearance at Wembley in cup competition under the Spaniard’s stewardship (W10, L5), but this isn’t a competition that’s been particularly good to them, with Guardiola’s men having lost their last two Community Shield appearances while they have a negative win-loss return historically (W6, L8).
The same cannot be said of Arsenal, who’ve won each of their last four in this competition, including a 3-0 win over City back in 2014. Another success would be the Gunners’ 17th and move them into second-place all time, only behind City’s arch-rivals Manchester United (21).
A clash between last season’s Premier League (PL) top-two at such an early stage also represents an opportunity for Mikel Arteta’s men to lay down a marker of intent after crumbling so disappointingly in the last campaign - winning just three of their last nine matches (D3, L3).
Arsenal are unbeaten on their last three trips to Wembley (W2, D1), but maintaining that record against City looks a tall order given another injury to Gabriel Jesus aligns with their ongoing eight-match losing H2H streak.
That dismal run makes up part of a sequence of just one win from the last 16 meetings (L15), so there may be revenge at the forefront of Gunners’ minds on the famous turf of the national stadium.
Key battle: Ominously, Guardiola warned that 52-goal striker Erling Haaland is “fitter and much better” heading into this season - a frightening prospect for an Arsenal side he directly contributed to four goals in three H2Hs against last season (G2, A2).
The Gunners will need William Saliba to be at his best to thwart him - the Frenchman lost just three of his 27 PL appearances last term (W21, D3).
Hot stat: Arteta has lost nine of his ten meetings with Guardiola, including a January 2022 fixture at which he remained home with COVID, which stands as his lowest win rate against any other manager with at least two H2Hs.