This document presents a short description of the current stage of works on H.265/HEVC video coding standard, which is being prepared by the JCT-VC group in order to achieve a 50% reduction of the data rate needed for high quality video coding, as compared to the current H.264/AVC standard. The gain should be achieved by an inclusion of a few new coding techniques and improvements to each step of original H.264/AVC coding algorithm. The proposed changes also ought to broaden the range of possible standard applications.