This is the second in a series of three papers in which we present an end-to-end simulation from the MICE collaboration , the MICE Grand Challenge ( MICE-GC ) run . The N-body contains about 70 billion dark-matter particles in a ( 3 h ^ { -1 } { Gpc } ) ^ { 3 } comoving volume spanning 5 orders of magnitude in dynamical range . Here we introduce the halo and galaxy catalogues built upon it , both in a wide ( 5000 { deg } ^ { 2 } ) and deep ( z < 1.4 ) lightcone and in several comoving snapshots . Halos were resolved down to few 10 ^ { 11 } h ^ { -1 } { M _ { \odot } } . This allowed us to model galaxies down to absolute magnitude M _ { r } < -18.9 . We used a new hybrid Halo Occupation Distribution and Abundance Matching technique for galaxy assignment . The catalogue includes the Spectral Energy Distributions of all galaxies . We describe a variety of halo and galaxy clustering applications . We discuss how mass resolution effects can bias the large scale 2 -pt clustering amplitude of poorly resolved halos at the \lesssim 5 \% level , and their 3 -pt correlation function . We find a characteristic scale dependent bias of \lesssim 6 \% across the BAO feature for halos well above M _ { \star } \sim 10 ^ { 12 } h ^ { -1 } { M _ { \odot } } and for LRG like galaxies . For halos well below M _ { \star } the scale dependence at 100 h ^ { -1 } { Mpc } is \lesssim 2 \% . Lastly we discuss the validity of the large-scale Kaiser limit across redshift and departures from it towards nonlinear scales . We make the current version of the lightcone halo and galaxy catalogue ( MICECATv1.0 ) publicly available through a dedicated web portal , http : //cosmohub.pic.es , to help develop and exploit the new generation of astronomical surveys .