Final result.

Step 1: Type de text.

Start a new document of 600 by 300 px.
Type the text. In the example the text color is #636363, font type: STKaiti, font size is 160.

Step 2: Give the text some shine.

Activate the Ellipse select tool and make a selection like this.

Go to Edit > Copy
Go to Edit > Past
Add a new layer, the 'floating selection layer' is transformed into a normal layer.
Check the 'Lock alfa channel' box in the layer window.
Fill this layer with white
And lower the opacity of this layer to somewhere around 20.

Step 3: Give the text a reflection.

While the top layer is active go to Layer > Merge Down so the two text layers get merged.
Duplicate the merged layer.
Go to Layer > Transform > Flip Vertically.
Activate the Move Tool and move the reflected text down. Use the down arrowkey of the keyboard rather than the mouse to avoid left/right movement.

Go to Layer > Mask > Add Layer Mask. The Add Layer Layer window will now appear. Choose here the 'White (full opacity)' option.
Set the standard foreground color (black) and background color (white).
Activate the Blend Tool and choose the FG to BG gradient.
Now draw the gradient like this.

Lower the opacity to 50 and you'll get this nice reflection.

Step 4: Use a gradient as floor.

Activate the background layer and make a new transparent layer.
Use the Rectangle selection Tool to make a selection like this.

Activate the Blend Tool.
And draw a gradient from the top to the bottom of this selection.
Deactivate the selection.

Finally lower the opacity of this layer to somewhere around 20 and (if needed) use the move tool to place it nice.