A display substrate and a method for manufacturing the same are provided. The display substrate includes: a base substrate; a first-color sub-pixel region and a second-color sub-pixel region on the base substrate. The first-color sub-pixel region includes: a first reflective layer, a first isolation layer and a first anode layer, the first reflective layer and the first anode layer being electrically connected with each other through a first connection element which penetrates through the first isolation layer. The second-color sub-pixel region includes: a second reflective layer, a second isolation layer and a second anode layer, the second reflective layer and the second anode layer being electrically connected with each other through a second connection element which penetrates through the second isolation layer. Thicknesses of the first isolation layer and the second isolation layer are different.