The new state-of-the-art video coding standard, H.265/HEVC, has been finalized in 2013 and it achieves roughly 50% bit rate saving compared to its predecessor, H.264/MPEG-4 AVC. This paper provides the evidence that there is still potential for further coding efficiency improvements. A brief overview of HEVC is firstly given in the paper. Then, our improvements on each main module of HEVC are presented. For instance, the recursive quadtree block structure is extended to support larger coding unit and transform unit. The motion information prediction scheme is improved by advanced temporal motion vector prediction, which inherits the motion information of each small block within a large block from a temporal reference picture. Cross component prediction with linear prediction model improves intra prediction and overlapped block motion compensation improves the efficiency of inter prediction. Furthermore, coding of both intra and inter prediction residual is improved by adaptive multiple transform technique. Finally, in addition to deblocking filter and SAO, adaptive loop filter is applied to further enhance the reconstructed picture quality. This paper describes above-mentioned techniques in detail and evaluates their coding performance benefits based on the common test condition during HEVC development. The simulation results show that significant performance improvement over HEVC standard can be achieved, especially for the high resolution video materials.