The flag-raising ceremony to mark Hong Kong’s return to Chinese rule on July 1 will be scaled back over “security concerns”, amid the escalation of protests against the contentious extradition bill, the Post has learned.Activists had reportedly considered hijacking the event, before attending the annual July 1 march.The Home Affairs Department, which is in charge of organising the ceremony, said it would reduce the number of attendees.“Due to the recent societal situation and security concerns,…