You're looking at GI in that ^^^ but reflections work in the same way, its screen space, its a form of RT, software RT. Its been around for a long time now, i think it first appeared in Farcy 3 and Dirt Showdown, the dynamic reflections in the car paint, then Crysis 3, something AMD was working on a t the time, its still in their developer SDK's, along with a lot of other stuff.
Sorry but that looks rather **** if I'm honest..... The lighting does not look anywhere near as good as the GI we have seen in other games released these days. But need to see what light sources there are, is it just the sun and that street pole light? The tree trunks and bottom leaves of the tree being complete black in some of those areas is not realistic at all. It looks like one of those crap ENB reshades which blows out highlights and crushes shadow detail/darker areas. Also, how does it work if you add more light sources? Is this done automatically for you in terms of light bouncing and direction of where the light is coming from and so on?