First-half goals from Darko Gyabi, Carlos Borges and Tai Sodje put Carlos Vicens' side firmly in control.
Wolves began brightly and would have taken the lead after just three minutes but for a superb block by Rico Lewis as Tyler Roberts connected with a low cross into the box.
But City gradually settled and began to dominate possession and Carlos Borges' clever pass saw Tai Sodje roll a low shot just wide on 11 minutes.
The game was finely balanced at the midway point of the opening period until Darko Gyabi cut inside from the left before curling a beauty in off the post and past keeper Joe O'Shaughnessy to put City 1-0 up.
Wolves almost levelled immediately with Roberts denied by City keeper Mikki Van Sas who made a fine save with his feet to deny the visitors.
But City resumed control with two goals in two minutes.
Micah Hamilton's deep corner was controlled by the impressive Borges who then thumped a shot into the roof of the net from close range to make it 2-0 on 32 minutes.
Then Gyabi slipped in Sodje who curled past the keeper from 10 yards to make it 3-0 with only 34 minutes on the clock.
Wolves came out hungry and aggressive after the break and were rewarded for their efforts on 56 minutes when Owen Hesketh nodded home from close range.
City, however, quickly restored their three-goal lead within minutes and again it was the excellent Borges who finished with aplomb as he again used his blistering pace to make it 4-1.
Borges, who gave both Wolves full-backs a torrid afternoon, then raced down the left before playing in Gyabi who was pulled down in the box.
Gyabi took the spot kick but was denied by a fine O'Shaughnessy save with 71 minutes played.
Borges had a chance to complete his hat-trick in added time, but screwed a low shot wide after racing into the box, but it took nothing away from a fine performance by the 16 year-old Portuguese winger, though it was an impressive display collectively.
City are home again next Saturday with Everton the visitors to the CFA.
How we lined up:
Van Sas, Lewis (Breckin), Charles, Doyle, Oduroh, Lavia (Taylor), Hamilton (Smith), Gyabi, Sodje, Adam
Unused sub: McNamara