That picture is a little suspicious. Look at them "holding" the top of the "flag."
fotoforensics.com/analysis.php?id=ffaac5beff95e49e8bd59097ac36afb61e83086c.59039&show=ela
The woman in red on our right also doesn't seem to be holding it. It's perhaps a cardboard sign or something? Maybe the picture of the flag was put over it?
Again, I'm no expert but it looks off to me.
[1] from https://www.jenniferzengblog.com/home/2020/8/5/bytedance-hea..., which also has archive links for the page in question and additional circumstantial evidence.