Zlatan Ibrahimovic missed an early penalty for the hosts, and was duly punished seven minutes before half time when Kevin de Bruyne finished off a quick break with a powerful finish.
A Fernando error gifted the hosts an equaliser through a freak goal off the boot of Ibrahimovic just three minutes later, though, and PSG were in front before the hour mark when Adrien Rabiot swept home a rebound.
However, Fernandinho's deflected strike 18 minutes from time gave City a crucial second away goal to take back to the Etihad Stadium for next Tuesday's second leg.
Find out how it all unfolded in an action-packed match courtesy of Sports Mole's live minute-by-minute coverage below.
6.45pmGood evening! What a match we have in store for you tonight as two of the richest clubs in world football go head to head - both desperate for European success having fallen well short in recent seasons. It is Qatar vs. Abu Dhabi, Ligue 1 vs. the Premier League - PSG vs. Manchester City in the first leg of their Champions League quarter-final. It promises to be an absorbing tie, but before we have a look at both sides, let's check the team news...
6.47pmPSG STARTING XI: Trapp; Aurier, Thiago Silva, David Luiz, Maxwell; Rabiot, Motta, Matuidi; Di María, Ibrahimovic, Cavani
6.47pmPSG SUBS: Stambouli, Marquinhos, Lucas, Kurzawa, Van der Wiel, Augustin, Sirigu
6.49pmMAN CITY SUBS: Caballero, Zabaleta, Demichelis, Kolarov, Delph, Bony, Iheanacho
6.51pmWhat can we make of those two teams, then? Well, it is a star-studded side from PSG, but there is a surprise inclusion at right-back for Serge Aurier, who has not featured for the club since going on a bizarre attack against his teammates and manager Laurent Blanc back in February. Marquinhos and Van der Wiel have both featured in the position during the Ivorian's absence, but while it at one stage looked like he would never play for the club again, he has now been recalled for the Champions League quarter-final despite surely lacking match practice too. It is a very interesting move by Blanc.
6.53pmThe rest of the back four remains the same, though, with the Brazilian trio of Thiago Silva, David Luiz and Maxwell starting once again, with Trapp behind them in goal. There are no changes in midfield either as Rabiot, who scored the opening goal at Stamford Bridge in the second round of the last 16 win over Chelsea, continues alongside Motta and Matuidi. Verratti, who is usually such a presence in the middle of the park, remains sidelined through a groin injury.
6.55pmThere are two changes in the forward positions, where PSG boast such strength in depth that they can afford to drop the likes of Lucas Moura to the bench for such a big game. Angel di Maria was passed fit in the build-up to this match and sure enough comes back into the side, while there is also a start for Edinson Cavani. The Uruguayan was a sub for both legs of the Chelsea tie in the last 16, and hasn't actually started a Champions League game since November, so he will be desperate to make an impact tonight.
6.57pmThe main man for PSG, as ever, is Zlatan Ibrahimovic. The Swede hit another hat-trick at the weekend to make it seven goals in his last three games and 30 for the season in Ligue 1 - twice as many as any other player. There is talk of a move to the Premier League when he leaves PSG in the summer, but a perfect parting gift for both club and player would be delivering the Champions League title. The Swede has won a staggering 13 league titles in his last 15 seasons as a player, with six different teams in four different countries, yet he has never won this competition.
6.59pmCity are at least able to welcome back their number one to try to keep Ibrahimovic at bay, with Joe Hart returning to the side this evening. He picked up a calf injury in the Manchester derby and was forced to pull out of international duty as a result, but he replaces Caballero in the side tonight as one of two changes from Manuel Pellegrini. His return is certainly a timely boost for a City side missing a number of key players such as Kompany, Toure and Sterling through injury.
7.01pmThe other change comes at right-back, where Bacary Sagna is recalled to the side and Zabaleta drops to the bench from the team that cruised past Bournemouth at the weekend. Aside from that, the defence that kept a clean sheet at Dean Court remains, including the centre-back partnership of Otamendi and Mangala which may not fill Man City fans with optimism up against Ibrahimovic. City have really struggled without Kompany this season, but if ever those two were going to live up to their price tags then tonight is the time to do it.
7.03pmToure's absence means that Fernando and Fernandinho continue at the base of the midfield, while in front of them Jesus Navas, David Silva and Kevin de Bruyne will offer attacking support. Silva was at his best against Bournemouth at the weekend and if he can continue that form tonight then it will go a long way to helping Man City pick up a positive result. De Bruyne also made his return from injury, marking his comeback with a goal, and having him back is a huge boost for Pellegrini.
7.05pmLeading the line for the visitors this evening is Sergio Aguero, who is certainly a striker worthy of gracing this special stage. He is one of the best forwards in the world when on top of his game and, while his form as been wavering a little in recent weeks, it is hard to argue with his scoring record in the Champions League - 16 goals in his last 18 starts in this competition. One more tonight would give City a very valuable away goal.
7.07pmThey are two sides filled with match-winners then, and despite Laurent Blanc's claims that City's squad contains more quality than his own, it is PSG who go into the tie - and particularly this first leg - as favourites to progress. The Champions League has been the holy grail for both teams since their respective takeovers, but PSG have made more ground in the competition and are certainly more experienced at this stage. It is 21 years since they made it to the last four, though, reaching their only previous semi-finals in 1994-95.
7.09pmThis year is widely regarded as their best chance yet of reaching the semis since their investment having been knocked out by Barcelona on two occasions and Chelsea in the other of their three previous quarter-final ties. They came up against Chelsea once again in the last 16 this year, but with the Blues struggling in the Premier League this season it was considered a much easier tie for PSG this time around. Guus Hiddink's side were no pushovers, but PSG eventually cruised to a 4-2 aggregate victory having won both legs 2-1.
7.11pmThe big question mark that lies over PSG at the moment is how they will fare if and when they come up against Europe's elite - a category neither Chelsea or Man City fall into this season. They have been knocked out by Barcelona in two of the last three seasons and were drawn in a group alongside Real Madrid this term, losing at the Bernabeu but holding the Spanish giants to a draw here. They finished second behind Los Blancos in Group A, though, which suggests that they are still marginally behind that leading pack.
7.13pmThere is no doubt that they are top dogs domestically, though. PSG have already wrapped up a fourth straight Ligue 1 title in record time, doing so with eight games to spare and in more emphatic style than they would have dreamed of. Their title-clinching victory was a 9-0 drubbing of Troyes - their biggest ever Ligue 1 win and the league's biggest away victory in history too. As things stand they are 25 points clear of second-placed Monaco and look like to shatter the all-time Ligue 1 record winning margin of 17 points.
7.15pmIndeed, they are on for the quadruple this season, including the Champions League. In addition to the Ligue 1 title, PSG are also in the final of the Coupe de la Ligue and the semi-finals of the Coupe de France, both of which are to come later this month. There doesn't seem to be a team capable of stopping them from at least wrapping up the domestic treble, and it is going to take a very good side to knock them out of this competition too.
7.17pmThey come into tonight's match having lost just two of their last 32 matches in all competitions, and three of 56 stretching all the way back to the same stage of this competition last season. Their two recent defeats have come in their last seven games, which hints at a bit of a dip in form, but they both came in Ligue 1 when it was already clear that the title was theirs. Their only other defeat all season came at the hands of Real Madrid at the Bernabeu.
7.19pmThey have been particularly impressive at home, where their only defeat in 25 outings this season came in the match straight after they had clinched the Ligue 1 title. Second-placed Monaco won 2-0 to end PSG's 34-match unbeaten home streak in the league, but aside from that the Parisians have won 20 and drawn four of their other 25 home games this season. It is a similar story of dominance in Europe, where they have lost just once - to Barcelona last season - in their last 38 home games. That particular run, which includes 19 games in the Champions League, stretches back to the 2006-07 UEFA Cup group stages.
7.21pmIt is a daunting task for Manchester City, then, particularly on their first ever appearance at this stage of the competition. It is the type of games that the owners have been wanting ever since they took over in 2008, though, with their Champions League dream being ended at the last-16 stage in both of the last two seasons after they were drawn against Barcelona. This is another very difficult tie, but it is all useful experience to be rubbing shoulders with such teams.
7.23pmThe ultimate goal is, of course, to become the best team in Europe, and City will be hoping that the arrival of Pep Guardiola, who has already won the competition twice as a manager, helps them to achieve that feat from next season. The Spaniard is expected to oversee a massive overhaul of players this summer and could still arrive at the Etihad as a European champion himself, with his Bayern Munich side having won 1-0 in the first leg of their quarter-final against Benfica last night.
7.25pmIt is still by no means certain that he will be taking over a Champions League team next season, though. Man City are embroiled in a very real fight for a top-four place this season, with just one point separating them from local rivals Manchester United, who currently sit in fifth. It has been a really disappointing final league season in charge for Pellegrini, whose side are a full 15 points behind leaders Leicester City with only seven games of the season remaining.
7.27pmIt is their recent form that has done the most damage, with City coming into tonight's match having only won three of their last 11 games in all competitions. They last won consecutive matches at the start of February, and before Saturday's victory over Bournemouth had gone three games without winning or even scoring. They quickly ended that goal drought, though, scoring three times in the opening 20 minutes at Dean Court before Kolarov added a fourth late on to wrap up a comfortable 4-0 victory.
7.29pmTheir form away from home has been mixed too, with only eight wins from their last 20 games on the road - a run that also includes five draws and seven defeats. It is by no means the worst away record that you will find, but it still isn't good enough for a club who have ambitions of challenging on all fronts, and they will need to be much better tonight if they are to remain in the tie heading into next week's second leg at the Etihad Stadium.
7.31pmSaturday's win over Bournemouth was their first on the road since their 3-1 triumph over Dynamo Kiev in the first leg of the last 16, when City recorded their maiden Champions League knockout victory. It was an impressive performance too as they all but wrapped up their quarter-final spot in the first leg, allowing them to barely break sweat in a goalless return at the Etihad. That second leg provided City with their only clean sheet in this season's Champions League, though, which will be a worrying statistic considering the firepower at PSG's disposal.
7.33pmWhile their away form in all competitions this season has been patchy, in the Champions League it has been pretty good. They have won three of their four away European outings, having won just one of their previous five - a clear sign of progress on the biggest stage. The only blemish on their record this term was a defeat at Juventus, but despite losing home and away to the Old Lady, they were still able to beat last season's runners-up to top spot in Group D.
7.35pmPREDICTION: Right. there are just 10 minutes remaining until kickoff at the Parc des Princes, which means that it is time for a prediction! This is an intriguing tie overall, but everything in the first leg points to a home victory. PSG's home record is formidable, while City's record on the road is anything but. With Ibrahimovic in such good form it will take an uncharacteristically solid defensive performance to keep them out too, so I'm going to go for a 2-0 home victory.
7.37pmThese two sides have only ever met once before, and on that occasion there were no goals - a result that would suit Man City just fine tonight. That previous meeting came in the 2008-09 UEFA Cup group stages, with Hart, Kompany and Zabaleta all in Mark Hughes's side that night. That is City's only previous competitive meeting with French opposition too.
7.39pmCity are tonight looking to become only the second English side to beat PSG in Paris, after Jose Mourinho's Chelsea managed it in September 2004. That fixture has become a common one in recent seasons, with PSG's last six games against English opposition all coming against Chelsea. They are unbeaten in the last four of those, although their overall record against Premier League sides is a mixed one (W4 D5 L4).
7.41pmLigue 1 has had the beaten of the Premier League in recent clashes, though, with the last three ties all going the way of the French club. PSG were responsible for two of those, again both at the expense of Chelsea, while Monaco also beat Arsenal last season. The odds suggest that the streak will grow to four over these two legs, but Man City certainly have the players to upset those odds.
7.43pmRight, we're just about ready to go here! The players are out, the anthem is blaring and we have 90 minutes of mouth-watering Champions League action ahead of us!
1 minKICKOFF: Man City get us underway in Paris as they look to keep themselves in the tie going into next week's second leg at the Etihad Stadium.
1 minYELLOW CARD! Within 10 seconds, Luiz goes into the book for pulling back Aguero after he had stolen in behind. It may have been early, but that is the correct decision and Luiz will now miss the second leg.
2 minDe Bruyne whips the resulting free kick in, but it is cleared away. Man City come right back at PSG, though, and De Bruyne is again on the ball and fires a long-range effort well over the top.
3 minThis has been a brilliant start from City. They have got in behind the PSG defence on a few occasions already and look really threatening. Can they take advantage and get a goal, though?
5 minBetter from PSG now as they respond with a few flurries of their own to get Man City on the back foot. This has been a good, quick start to this game.
7 minPENALTY SHOUT! Big penalty shout for PSG! The ball is threaded through for Matuidi, who has made one of his trademark surges forward. Mangala nudges him from behind after Matuidi had got in between the defender and the ball, and Hart also contributes to bringing him down. PSG scream for a penalty, but the referee says no. Man City have got away with one there - it looked like a penalty to me!
9 minWell, we were hoping for a quick and open game here, and it has certainly started that way. Both sides are really going for it and I would be surprised if this one stays goalless for too much longer.
11 minYELLOW CARD! Clichy joins Luiz in the book early in this match, bringing down Aurier with a needless challenge. It was a little harsh, but not the brightest bit of play by Clichy.
14 minWhat a huge moment in this tie! PSG are awarded a penalty this time as Luiz goes tumbling over the outstretched leg of Sagna. It was clumsy from Sagba, but Luiz certainly played for it. The referee points to the spot and up steps Ibrahimovic, but Hart gets down to make a big, big save.
15 minCHANCE! Another chance for Ibrahimovic moments after his penalty miss as a cross arrives from the right tot he unmarked Swede. It is not the easiest header, but he gets it on target and forces another stop from Hart.
17 min...and he has saved three of his last four in the Champions League, including one from Lionel Messi.
2 - Joe Hart is the only goalkeeper to save two penalties this CL season (two faced). Denied.
19 minThere has barely been time to draw breath in this opening 20 minutes or so. Man City made a great start, but since then they will be worried by what they have seen. PSG have carved them open too easily.
21 minCHANCE! Decent chance for Man City as they break quickly after winning the ball back. De Bruyne gives it out to Navas, who in turn whips a really good ball into the box. Silva is attacking it, but just overruns it slightly and then glances his header wide of the target.
23 minThe penalty that was given was a little dubious, with Luiz playing for it, but the one that was turned down did look like a spot kick for me. Here is Mangala's nudge in the back of Matuidi.
24 minCHANCE! Huge chance for the home side again as City lose the ball and a big hole appears in their defence. One through-ball sends Ibrahimovic in behind and he only has Hart to beat, but he curls his effort over the top. He has not got his shooting boots on tonight!
26 minUPDATE: There may well be a shock on the cards in the night's other Champions League quarter-final, with Wolfsburg having gone into an early 2-0 lead over Real Madrid. Not the best way to back up victory in El Clasico!
27 minOtamendi rises highest in the area to meet a corner, but he can't get a clean head on it and the ball drops into the six-yard box, where Trapp is there to collect it.
29 minWell, after 10 minutes of this match I did not expect it to still be goalless after half an hour. It has just settled down a little in the last few minutes, though, and Man City will be pretty pleased with where they are now.
31 minPSG are still knocking the ball about nicely, but it is in much safer areas for Man City right now. They have steadied things up at the back and PSG are struggling to find a way through now.
33 minPSG win a free kick around 35 yards from goal, but it doesn't deter Ibrahimovic. He scored a beauty at the weekend and goes for goal again here, but this time his powerful effort hits the wall.
35 minYELLOW CARD! Fernando is the latest name in the book for a foul on Luiz, although again the PSG defender was looking for that. The Man City men are making it easy for him, but it is questionable from Luiz. Free kick in a dangerous position...
37 minThis time it is Di Maria who goes for it, but again the wall does its job to stop the shot.
38 minManchester City take the lead, and crucially have an away goal! Fernando nicks the ball from Rabiot in midfield and gives it to Fernandinho, who brings it forward from midfield. He then sends it out wide for De Bruyne, taking Luiz out of the game in the process, and the Belgian proceeds to thump the ball past Trapp.
41 minOh my word, having just taken the lead Man City throw it away with an absolute howler from Fernando! Hart played a goal kick short to the midfielder, who dallied on the ball before trying to play it out wide with the outside of his boot. Ibrahimovic has closed him down, though, and his block from the pass rolls into the empty net with Hart still out of position from the goal kick. What a gift for PSG to get back into this match.
43 minThat really is one of the worst ways, and times, that City could have conceded. They had done so well for most of this first half, but to gift a team like PSG a goal like that, just before half time and just after taking the lead, is devastating for the visitors.
45 minThere will be one minute of added time at the end of this action-packed first half.
45+1 minCHANCE! What a chance for PSG to go into the break ahead! Di Maria slides a pass out to the left channel for Matuidi, who is in space. He has Cavani racing in and a simple cross along the floor would leave the Uruguayan with a tap-in from close range, but he blasts it across in the air and the chance goes begging.
8.40pmPhew! That was a breathless first half with plenty of action at either end, and at the end of it all we are level at the break. PSG have had the better chances, including a penalty, but Man City will be by far the happier of the two teams with this scoreline at the moment.
8.42pmIt was the visitors who got the opening goal when Fernando latched on to a loose pass from Matuidi in midfield before giving the ball to Fernandinho, who carried the counter-attack into the PSG half. He then gave it out wide to De Bruyne, who took a touch before lashing his finish past the keeper from inside the area.
8.44pmThe lead lasted only three minutes before Man City gifted an equaliser back to the hosts, though, with Fernando giving away a schoolboy goal. He picked up a short pass from Hart on the edge of his own area and, while his first touch was poor, he was still in control of the situation with Ibrahimovic closing him down. However, his attempted pass struck the boot of Ibrahimovic and deflected into the empty net, with Hart still out of position for the goal kick.
8.46pmThat stroke of luck for Ibrahimovic came after he had previously missed a one-on-one and a penalty, the latter of which saw saved by Hart after Luiz had gone down over the outstretched leg of Sagna. There was another big chance for the hosts late in the half when Matuidi was played in down the left channel and had Cavani screaming for it in the middle, but his pass was overhit and denied the Uruguayan a sitter from close range.
46 minKICKOFF: PSG get us back underway for this second half - more of the same please!
48 minYELLOW CARD! Matuidi goes into the book for clipping the heels of Otamendi. It is a harsh booking, but one that sees Matuidi ruled out for the second leg.
50 minHalf a chance for the hoses as Maxwell drives a cross into the middle that Cavani meets, but it is a difficult header to take on and he can't keep his effort down.
52 minCavani is again involved here as he does well to collect Di Maria's pass and engineer a crossing opportunity, looking for Ibrahimovic at the back post. The Man City does just enough to prevent the Swede from having another clear sight of goal, though.
53 minShooting chance for Fernandinho from range, but it is not one he will want to see again as he drags it well wide. Meanwhile, I have just seen a replay of that cross towards Ibrahimovic and it looks as though the ball struck the hand of Sagna. That could easily have been another penalty!
55 minA PSG corner creates panic in the area as City need three bites at the cherry before finally getting it clear.
56 minCHANCE! Decent opening for Man City as Silva collects the ball inside the area and lets it roll across his body. It is on his weaker foot, but he still looks to pass it into the bottom corner. Trapp reads it, though, and makes the save.
59 minPSG have turned this one around! They take the lead on the night as a corner is flicked goalwards by Edinson Cavani, and Hart can only parry it out into a dangerous position. Rabiot is following it in and is left with a simple finish from close range to send the Parc des Princes wild. It is advantage PSG now for the first time in the tie!
61 minCity don't look like they will settle for a 2-1 defeat here. They immediately come forward in response as Clichy flies down the left before pulling a cross back to Silva in a yard of space inside the area. His first touch is good, but it just doesn't come down for him to get a shot away.
62 minOFF THE BAR! PSG are inches away from a third! A cross from the right is nodded goalwards by Ibrahimovic, who towers over Sagna at the back post. Time almost stops as everyone watches the ball float against the crossbar, before Cavani sends a scissor kick bouncing over from the rebound.
64 minMan City are in a very precarious position right now. PSG look capable of scoring again, so Man City must now make a decision whether to try to prevent that from happening, or whether to push for a second away goal themselves. City do look threatening on the counter, but it is PSG who look most like scoring.
66 minPSG are enjoying a lot of the ball inside the Man City half at the moment, with the visitors finding it really hard to get out. The pressure is beginning to grow again!
67 minSHOT! City do break out here, with Navas coming forward down the right channel. He works half a yard of space, but then goes for goal with the angle against him a skews a terrible shot comfortably wide.
70 minDecent spell of possession for City here as they knock it about nicely and make progress upfield while doing so. However, they are eventually forced all the way back and the long ball that follows sees the hosts win the ball back. Good, patient defending from PSG.
72 minWhat a huge goal that could be for Man City! They get a second away goal and level things up on the night, and they won't care one bit that it is a messy one. The ball arrives in from the right and drops at the feet of Fernandinho after hitting Silva. Fernandinho doesn't need a second invitation to shoot, and his strike once again hits Silva on the way through to take it past the keeper!
74 minThis tie has really lived up to its billing tonight. It has been a superb game, with both sides playing their part, and if it stays like this then we should be in for another thriller next week at the Etihad.
76 minCity have got these two away goals without Aguero been heavily involved too. On the basis of tonight, there will be goals in next week's second leg as well, but as things stand the advantage is very much with the visitors.
77 minMAN CITY SUB: De Bruyne is not yet up to the full 90 minutes having only recently returned from injury, and he departs to be replaced by Fabian Delph here.
78 minPSG SUBS: Blanc responds with a double change of his own as Aurier and Rabiot are both taken off to be replaced by Gregory van der Wiel and Lucas Moura.
80 minPSG surely have to go for this in the final 10 minutes here. This is a much better result for Man City than it is for PSG, who would need a memorable performance at the Etihad next week as things stand. Could it be four quarter-final exits in a row for the Ligue 1 champions?
83 minYELLOW CARD! Mangala goes into the book for a challenge from behind on Matuidi. No complaints there.
85 minYELLOW CARD! Navas joins Mangala and the rest in the book, but City won;t mind as the clock continues to tick down.
87 minMan City are actually looking like the most likely to score another in these closing stages. The hosts have become very sloppy and are nowhere near as urgent as you might expect in this situation.
89 minMAN CITY SUB: Another change from the visitors as Wilfried Bony replaces Silva.
90+1 minThere will be three minutes of added time at the end of this match.
90+3 minMAN CITY SUB: A third and final change for City to wind the club further down as Aguero trudges off to be replaced by Aleksandar Kolarov.
90+4 minFULL TIME: Paris Saint-Germain 2-2 Manchester City
9.43pmWhat a result that is for Man City to take back to the Etihad! They have the advantage in this tie courtesy of those two away goals, with De Bruyne and Fernandinho finding the back of the net for the visitors. Ibrahimovic scored a freak goal for PSG following a howler from Fernando and Rabiot added a second to put his side in front, but they couldn't hold on to the lead and now must win or score at least twice in next week's second leg to avoid a fourth consecutive quarter-final exit.
9.45pmThat is all we have time for this evening! Thank you very much for joining Sports Mole for tonight's enthralling contest as Man City pick up an impressive 2-2 draw in Paris. I will leave you with our match report, and be sure to stick around for reaction too. Our attention turns to the Europa League tomorrow night, so tune back in for that - including Jurgen Klopp's return to Dortmund. From me, though, it is goodbye for now!