The Reds narrowly missed out on the Premier League title last season after finishing just one point behind the Citizens.
That was the second time in the last five years that Pep Guardiola pipped Jurgen Klopp to the league crown by just one point.
However, last weekend it was the German who celebrated victory over his Spanish counterpart with a convincing win at the King Power Stadium.
While the Community Shield may have little bearing on the forthcoming season, Liverpool midfielder Fabinho certainly enjoyed getting one over the Manchester outfit.
The Brazil international said: "Of course, it is always important to win trophies.
"Winning against City, I'm not going to lie, feels better because they are the best team in England so it feels good to beat them.
"I think it is the best way to start the season. I think it is important for us because it was a really intense game, it was tough physically.
"All the players who played 90 minutes it was the first time they had done that this season - in pre-season we didn't play 90 minutes.
"It is good for the legs to be better physically for the start of the Premier League."
Liverpool will kick off their new Premier League season away at Craven Cottage as they take on newly promoted Fulham.