Provided is a display substrate, including a display area and a bonding area located at a side edge of the display area and connected therewith; the bonding area includes a first non-bendable region, a bendable region and a second non-bendable region sequentially arranged and connected; the display substrate further includes a base, and an inorganic insulating layer, a metal conductive layer and an organic insulating layer successively located on the base; orthographic projections of the inorganic and organic insulating layers on the base are located in the display area and the first and second non-bendable regions; the metal conductive layer extends from the display area to the first non-bendable region, the bendable region and the second non-bendable region; the display substrate further includes an adjustment protective layer made of Optical Clear Resin and located on the organic insulating layer; and the adjustment protective layer covers the bendable region.