The present disclosure provides a display substrate and a display device. Each pixel unit includes: a blue sub-pixel, a transparent color filter layer being arranged in the blue subpixel and configured to allow a blue light beam to be transmitted therethrough toward the display substrate; a red subpixel, a red fluorescent powder layer being arranged in the red subpixel and configured to emit a red light beam under the excitation of the blue light beam; a green subpixel, a green fluorescent powder layer being arranged in the green subpixel and configured to emit a green light beam under the excitation of the blue light beam; and a yellow subpixel, a yellow fluorescent powder layer being arranged in the yellow subpixel and configured to emit a yellow light beam under the excitation of the blue light beam.